CLASSIFICATION OF ACCOUNTS & NORMAL BALANCES
Match the description with the BEST answer. You may use the same one more than once.
A..increaseC..asset E..capitalG..expense I..credit
B..decreaseD..liability F..revenueH..debit J..investment

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1.
A debit to a revenue account will _____________ it.
___
2.
Prepaid Insurance is classified as a(an) ______________ .
___
3.
To increase an asset you have to ______________ it.
___
4.
Notes Payable is classified as a(an) ________________ .
___
5.
It takes a _____________ to decrease Accounts Payable.
___
6.
A debit to Salaries Expense will ______________ it.
___
7.
buildings is classified as(an) _______________ .
___
8.
A credit to the Land account will _____________ it.
___
9.
Office Equipment is classified as a(an) ______________ .
___
10.
The normal balance for Drawing is _______________ .
___
11.
The normal balance for an expense is the same as for a(an) ____________ .
___
12.
An account receivable is decreased with a ______________ .
___
13.
An investment by the owner will _____________ Capital.
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14.
To increase Accounts Payable would take a ____________ .
___
15.
Supplies would be classified as(an) ____________ .
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16.
The normal balance for Accounts Receivable is ____________ .
___
17.
It would take a ____________ to increase Drawing.
___
18.
An expense is increased with a _____________ .
___
19.
If the owner withdraws money for personal reasons, it will __________ the Drawing account.
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20.
A(an) ___________ will cause Capital to be increased.
___
21.
Fees Earned is classified as a(an) _____________ .
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22.
Credits to the Cash account will _____________ it.
___
23.
An investment by the owner will increase ____________ .
___
24.
A debit to Prepaid Rent or to Rent Expense will __________ them.
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25.
When the owner performs a service, this increases the ___________ account.


CLASSIFICATION OF ACCOUNTS & NORMAL BALANCES
[Answer Key]
B
1.
A debit to a revenue account will _____________ it.
C
2.
Prepaid Insurance is classified as a(an) ______________ .
H
3.
To increase an asset you have to ______________ it.
D
4.
Notes Payable is classified as a(an) ________________ .
H
5.
It takes a _____________ to decrease Accounts Payable.
A
6.
A debit to Salaries Expense will ______________ it.
C
7.
buildings is classified as(an) _______________ .
B
8.
A credit to the Land account will _____________ it.
C
9.
Office Equipment is classified as a(an) ______________ .
H
10.
The normal balance for Drawing is _______________ .
C
11.
The normal balance for an expense is the same as for a(an) ____________ .
I
12.
An account receivable is decreased with a ______________ .
A,I
13.
An investment by the owner will _____________ Capital.
I
14.
To increase Accounts Payable would take a ____________ .
C
15.
Supplies would be classified as(an) ____________ .
H
16.
The normal balance for Accounts Receivable is ____________ .

H

17.
It would take a ____________ to increase Drawing.
H
18.
An expense is increased with a _____________ .
A
19.
If the owner withdraws money for personal reasons, it will __________ the Drawing account.
J,I
20.
A(an) ___________ will cause Capital to be increased.
F
21.
Fees Earned is classified as a(an) _____________ .
B
22.
Credits to the Cash account will _____________ it.
E
23.
An investment by the owner will increase ____________ .
A
24.
A debit to Prepaid Rent or to Rent Expense will __________ them.
F
25.
When the owner performs a service, this increases the ___________ account.